Discuss and analyze quantitative and qualitative data to assess the performance of a product since its launch.

Scenario:

In this assignment, you will take on the role of a business leader analyzing whether a new product their company has introduced is meeting expectations. You would like to create a post in the company intranet that summarizes your findings in an easy-to-read format for your team. Pay special attention to creating meaningful data visualizations. You should use techniques that make content easy to follow but that also display charts accurately without distorting or skewing data.

Your company’s profit goal is 25 percent of the cost of goods sold (COGS). Remember, COGS is the cost of manufacturing the product, including labor, materials, and overhead. You will need to build trust and an open channel of communication with other leaders on your team. Pay close attention to the story that data visualizations tell you and others reviewing your post.

Goals:

To make sense of all the data available to them, business leaders work alongside data scientists who generate data visualizations to understand business questions via analytics. This process gives companies insight into what is working and what is not (e.g., whether the products or services offered are meeting expectations or whether a shift in strategy is necessary).

In this assignment, you will

1.) analyze quantitative and qualitative data to assess the performance of a product since its launch,

2)draw conclusions and communicate them in your assignment, and

3)create data visualizations to provide evidence supporting your conclusion.

Review the Data:

The attached spreadsheet contains data on the number of goods sold, the cost of goods sold, the overhead, the revenue, and the profit. Use visualizations to analyze the data for trends by looking for answers to these questions:

How have costs changed over time?
What is the cost of goods over time?
How does the profit change over time?
How has the profit as a percent of the cost of goods changed over time?
What factors are responsible for changes in revenue and profits?
Has your company been able to meet its goal of a profit equal to 25 percent of the COGS?
How do you expect the COGS, revenue, and profit to change in the future?

Experiment with the spreadsheet and the data to find the best visualizations to “see” important trends. Remember, the purpose of this analysis is to better understand the cost, revenue, and profit associated with the new product launch.

HERE ARE THE MOST IMPORTANT COMPONENTS OF THE PAPER:

1.) In 25–50 words, introduce the purpose of this assignment by answering these questions: What are you reporting on and what are you analyzing? Why is it important to analyze this information?

2.)In 25–50 words, answer these questions: Why is data analysis important? How can it help you understand whether the new product had a successful launch?

3.)In 200–400 words, summarize the general trends by answering these questions: How did COGS, profit, and profit as a percentage of COGS change over time? How close did your company come to meeting its goal?

4) Tell the story of your product’s launch through data visualizations. Keep your target audience in mind as you choose which data visualization to use. Look for the visualizations that best highlight the trends and that will be easiest for your audience to interpret.

You will need to upload TWO data visuals. (graphs, charts, etc.) For each of the two visuals answer the following questions: In 15–30 words, answer these questions: What kind of graphic have you selected and why? What is the main point you would like to make with this visualization?

5.)In 60–120 words, answer this question and explain your reasoning: Based on past performance, do you expect that the company will be able to meet its goal of a profit that is equal to 25 percent of the COGS in the future? Upload a data visualization that provides the strongest evidence to support your argument. (Remember to upload your visualization as a JPG or PNG file.)In 15–30 words, answer these questions: What kind of graphic have you selected and why? What is the main point you would like to make with this visualization?

6.) Summarize your findings: In 50–100 words, describe the launch of this product and answer these questions: Has it been successful? What trends have you been able to illustrate with your visualizations? What do you hope your target audience has gaincixed from viewing your data visualizations?

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